Obama/Congress now going to use Social security as a pawn in the Debt ceiling Fight

[Redfish]

Social Security now adds to the deficit, but it is not Social Security's fault. The Trust Fund is generating interest from its government bonds,

and in the last couple years it has drawn off some of that interest income to pay recipients.

The federal government has to pay that interest out of the general fund, and a third of the government's spending is being borrowed,

therefore, if the government can't borrow anymore, it either has to cut SS payments, or take the money away from someone else to make the payments.

How stupid can you be NY. If the govt is short of revenue then it needs to prioritize where the money goes. Most people would give the highest priorities to paying the debt interest, SS, medicare, medicaid, NIH, veterans, etc and not pay such things as NPR, Planned parenthood, foreign aid, foreign bases, etc.. How about bringing hour military home from Iraq and Afghanistan and Germany and Japan and Korea and the phillipines? How many billions would that save?

To make the claim that SS recipients should bear the total burden of balancing the budget is just ignorant.

 

[BreezeWood]

just finish the deal from the last time - Rs got their sequester, now it is time for them to raise revenue.

.

 

[Redfish]

just finish the deal from the last time - Rs got their sequester, now it is time for them to raise revenue.

.

the best way to raise revenue is to create jobs, the best way to create jobs is to get the govt off the back of small business.

 

[KokomoJojo]

Social Security now adds to the deficit, but it is not Social Security's fault. The Trust Fund is generating interest from its government bonds,

and in the last couple years it has drawn off some of that interest income to pay recipients.

The federal government has to pay that interest out of the general fund, and a third of the government's spending is being borrowed,

therefore, if the government can't borrow anymore, it either has to cut SS payments, or take the money away from someone else to make the payments.

How stupid can you be NY. If the govt is short of revenue then it needs to prioritize where the money goes. Most people would give the highest priorities to paying the debt interest, SS, medicare, medicaid, NIH, veterans, etc and not pay such things as NPR, Planned parenthood, foreign aid, foreign bases, etc.. How about bringing hour military home from Iraq and Afghanistan and Germany and Japan and Korea and the phillipines? How many billions would that save?

To make the claim that SS recipients should bear the total burden of balancing the budget is just ignorant.

SS should not even be part of it in the first place, since as I said its pay as we go and the rates are long established and change very little.

now bailouts and military changes all the time. However including ss makes the government appear to require more money and thats always good to convince people of tax hikes.

 

[Redfish]

If I were a good Republican i'd say: I think the seniors in the nation have fed off of the Social Security welfare system for all these years and now have to share some of the problems caused by the Democratic shutdown. Besides America wouldn't even have a Social Security system if it weren't for the Republican party.

As a Republican, I say these old people are "takers," and not "makers;" therefore, they need to get off the govt tit.

They were forced to pay into the SS system for their entire working lives, the govt promised them a payback if they lived long enough to retire. Same with medicare, they were forced to pay into it since its inception.

the govt needs to live up to the contract that it forced on its citizens

 

[KokomoJojo]

just finish the deal from the last time - Rs got their sequester, now it is time for them to raise revenue.

.

the best way to raise revenue is to create jobs, the best way to create jobs is to get the govt off the back of small business.

or pay higher rates for shorter work weeks.

or reduce inflation and have shorter work weeks.

 

[regent]

If I were a good Republican i'd say: I think the seniors in the nation have fed off of the Social Security welfare system for all these years and now have to share some of the problems caused by the Democratic shutdown. Besides America wouldn't even have a Social Security system if it weren't for the Republican party.

Could you explain that? I'm pretty sure that FDR started SS.

Still speaking as a Republican:

FDR ruined the nation. When Social Security was going under Reagan came in and saved Social Security by lowering taxes and paying off the debt.

 

[Redfish]

just finish the deal from the last time - Rs got their sequester, now it is time for them to raise revenue.

.

the best way to raise revenue is to create jobs, the best way to create jobs is to get the govt off the back of small business.

or pay higher rates for shorter work weeks.

or reduce inflation and have shorter work weeks.

What? so a business is supposed to hire two people at higher rates instead of one person for 40 hours/week? sorry, but that makes absolutely no sense.

or maybe you are being sarcastic and I missed it.

 

[Wry Catcher]

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

If Congress/Obama Mess with Social security then they truly all should be voted out of office/impeached. Social security is a lot of peoples only means to pay the bills and it isn't something to toy with and hold hostage you have already cost a lot of people there paychecks and now you want to mess with even more peoples money? Inexcusable.

yeh and to think the government is the trustees of such important matters is incomprehensible.

How soon some people forget AIG, Bear Stearns, Lehman Brothers and the corruption of the Big Banks in creating the Great Recession of 2007 - 2009.

What is incomprehensible is putting trust into an unregulated by government system which has a history of dishonest dealings with the public.

BTW, SS funds are deposited in the Social Security Trust Fund; Social Security "has a surplus of $2.7 trillion. This year it is on track to take in $38.8 billion more in revenue than it will pay out, according to the forecast of the program's trustees."

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

 

[Katzndogz]

obama can stop SS checks only if he violates federal law. obama has shown a propensity for violating laws so it would not be surprising if he ordered the checks withheld. It would just be illegal.

 

[LordBrownTrout]

just finish the deal from the last time - Rs got their sequester, now it is time for them to raise revenue.

.

the best way to raise revenue is to create jobs, the best way to create jobs is to get the govt off the back of small business.

They will never understand that simple concept.

 

[LordBrownTrout]

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

If Congress/Obama Mess with Social security then they truly all should be voted out of office/impeached. Social security is a lot of peoples only means to pay the bills and it isn't something to toy with and hold hostage you have already cost a lot of people there paychecks and now you want to mess with even more peoples money? Inexcusable.

yeh and to think the government is the trustees of such important matters is incomprehensible.

How soon some people forget AIG, Bear Stearns, Lehman Brothers and the corruption of the Big Banks in creating the Great Recession of 2007 - 2009.

What is incomprehensible is putting trust into an unregulated by government system which has a history of dishonest dealings with the public.

BTW, SS funds are deposited in the Social Security Trust Fund; Social Security "has a surplus of $2.7 trillion. This year it is on track to take in $38.8 billion more in revenue than it will pay out, according to the forecast of the program's trustees."

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

I trust my own financial moves over government and wall street.

 

[Wry Catcher]

obama can stop SS checks only if he violates federal law. obama has shown a propensity for violating laws so it would not be surprising if he ordered the checks withheld. It would just be illegal.

Gee, I bet you hope he does. Then you, and other morons like you in the H. of Rep., can try to impeach the president, default on the nations debt and create chaos across the land.

Won't that be fun, when people like you have your way; then we can all have all the guns we want, hunt game for food without a license, and not worry about paying taxes to support the government or pay for the health care of others We'll all be FREEEEEEE, at least until one of those uninsured coughs in our face and we get TB.

 

[Wry Catcher]

yeh and to think the government is the trustees of such important matters is incomprehensible.

How soon some people forget AIG, Bear Stearns, Lehman Brothers and the corruption of the Big Banks in creating the Great Recession of 2007 - 2009.

What is incomprehensible is putting trust into an unregulated by government system which has a history of dishonest dealings with the public.

BTW, SS funds are deposited in the Social Security Trust Fund; Social Security "has a surplus of $2.7 trillion. This year it is on track to take in $38.8 billion more in revenue than it will pay out, according to the forecast of the program's trustees."

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

I trust my own financial moves over government and wall street.

Yeah? And what are they? Growing weed, prostitution, or some other illegal activity? 'Cause one or the other will be at least peripherally involved in most everything else.

 

[Wry Catcher]

Ask them questions, they have no answers.

 

[CrusaderFrank]

Third or fourth time Obama has threatened American Seniors with destitution or starvation unless he gets his way

 

[CrusaderFrank]

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

If Congress/Obama Mess with Social security then they truly all should be voted out of office/impeached. Social security is a lot of peoples only means to pay the bills and it isn't something to toy with and hold hostage you have already cost a lot of people there paychecks and now you want to mess with even more peoples money? Inexcusable.

yeh and to think the government is the trustees of such important matters is incomprehensible.

How soon some people forget AIG, Bear Stearns, Lehman Brothers and the corruption of the Big Banks in creating the Great Recession of 2007 - 2009.

What is incomprehensible is putting trust into an unregulated by government system which has a history of dishonest dealings with the public.

BTW, SS funds are deposited in the Social Security Trust Fund; Social Security "has a surplus of $2.7 trillion. This year it is on track to take in $38.8 billion more in revenue than it will pay out, according to the forecast of the program's trustees."

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

unregulated?

LOL

Did you mean that?

 

[Wry Catcher]

yeh and to think the government is the trustees of such important matters is incomprehensible.

How soon some people forget AIG, Bear Stearns, Lehman Brothers and the corruption of the Big Banks in creating the Great Recession of 2007 - 2009.

What is incomprehensible is putting trust into an unregulated by government system which has a history of dishonest dealings with the public.

BTW, SS funds are deposited in the Social Security Trust Fund; Social Security "has a surplus of $2.7 trillion. This year it is on track to take in $38.8 billion more in revenue than it will pay out, according to the forecast of the program's trustees."

Will You Get Your Social Security Check if the U.S. Defaults? - Yahoo Finance

unregulated?

LOL

Did you mean that?

Yes I did. Isn't that what you and the rest of the right wing want, an unregulated by government financial services industry because you believe markets are self regulating. You and others believe SS should be privatized, Medicare is socialism and should be replaced by the insurance industry without any government interference and all of the regulatory agencies (FDA, EPA, CPSC, FAA, etc. etc.) be eliminated as well as the Depts. of Energy, Education, Interior, Commerce, etc. etc.).

 

[eagle1462010]

Here we go again. Fear tactics.

Social Security has to be paid by law.

Social Security has roughly 2.7 TRILLION in the Treasury and will peak in roughly 2021 at 3 TRILLION.

These revenues have been spent to fund the Gov't and replaced by bonds. This is an area called Intergovernmental debt. The Gov't is required again BY LAW to PAY BACK THESE BONDS WHEN THEY ARE NEEDED.

If the Fed BORROWS to pay these then the OVERALL DEBT WILL NOT INCREASE A PENNY.....

Because for every cent borrowed to pay them, a cent is removed from the Intergovernmental Debt.

It can only DEFAULT if the Treasury Dept. DISREGARDS THE LAW.